This section describes trade submission rules unique to Universal Transaction Identifiers and CME ClearPort Trade Identifiers:

Universal Transaction Identifier (UTI)

The UTI is a unique identifier assigned to all swap transactions which identifies the transaction (the swap and its counterparties) uniquely throughout its duration. The creation and use of the UTI has been mandated by the U.S. Commodity Futures Trading Commission (CFTC) and U.S Securities and Exchange Commission (SEC) as part of the Dodd-Frank Act. The Part 45 rules under Dodd-Frank Act prescribe UTI creation using Legal Entity Identifier (LEI) that identifies the registered entity creating the UTI given to the registered entity by the Commission during the registration process.

The UTI consists of two parts concatenated to create unique identifier. The first 20 characters are the Legal Entity Identifier (LEI) of the registered entity creating the UTI. The remaining characters of the UTI will consist of a code, Transaction Identifier, created by the registered entity that must be unique with respect to all other UTI’s created by that registered entity.

The maximum size of UTI is 52 characters.

Registered Entity – denotes an entity that facilitates swaps transactions

Transaction Identifier – The unique identifier for the swap transaction as assigned by the entity reporting swap data to the Swap Data Repository (SDR). The value must be unique within each Legal Entity Identifier (LEI) and can be of variable length up to 32 characters.

Transaction Identifier Exclusions - The transaction identifier has the following exclusions:

All special characters other than “-“ ,  “|”,  “.” , “_” (underscore) ,  “:” , and “ “(a space) are excluded.

Transaction Identifier

The unique identifier for the swap transaction as assigned by the entity reporting swap data to the Swap Data Repository (SDR). The value must be unique within each Legal Entity Identifier (LEI) and can be of variable length up to 32 characters.

Transaction Identifier Exclusions

The transaction identifier has the following exclusions:

All special characters other than “-“ ,  “|”,  “.” , “_” (underscore) ,  “:” , and “ “(a space) are excluded.

UTI Assignment

When a trade is reported for clearing, a bilateral UTI for the Swap is required. This is the initial UTI that is assigned to the swap upon execution by the Reporting counterparty or the Swap Execution Facility (SEF).

The UTI will be communicated back to the submitter on subsequent acknowledgments and notifications. This will be report as the current UTI until the trade is cleared. Once the trade is cleared, CME DCO will assign a cleared UTI for each side. The cleared UTI will be the current UTI and the original UTI assigned to the swap will be the prior UTI.

Sample of a bilateral UTI assigned by CME DCO

 Sample of a Cleared UTI assigned by CME DCO

CME ClearPort Trade Identifiers

Trade and Allocation IDs

The API allows and provides the following identifiers when submitting trades and allocations. Identifiers are both provided by the submitter and assigned by CME ClearPort. All provided identifiers must be reported back on all responses back to the submitter. In addition to this, CME ClearPort generated IDs must be sent back once the trade has passed preliminary validations. Trades and allocations must be referenced by the CME ClearPort assigned identifiers after submission.